PHOENIX — LMI Solutions has acquired an 82,288-square-foot freestanding industrial building, which is located within Triangle Industrial park at 46 North 49th Ave. in Phoenix, for $4.32 million. The property features 3,000 square feet of office space, 12 docks, two grade-level doors and 30-foot ceiling height. Mark DiSabato of Atlantis Commercial represented the buyer; Don MacWilliam and Payson MacWilliam of Colliers International represented the seller, First Industrial Realty Trust, in the transaction.
Western
SAN FRANCISCO — Argonaut Private Equity Group has acquired a $40.8 million note on 250 Montgomery Street in San Francisco. The seller was Hartford, Conn.-based Realty Finance Corp. 250 Montgomery is a 16-story, 116,000-square-foot office property currently occupied by California Pacific Bank, the American Land Conservancy and Bay Street Research. Daniel Cressman of Grubb & Ellis’ San Francisco office represented the Argonaut in the transaction.
MISSION VALLEY, CALIF. — Voit Real Estate Services has brokered the sale of eight units at Hillside Professional Center, which is located at 2221 Camino del Rio South in Mission Valley, for a total consideration of $2.3 million. The 41,500-square-foot Hillside Professional Center offers 30 units of medical and office space. San Diego-based Language World has acquired five contiguous units totaling 7,762 square feet at the center for $1.6 million. Scott Danshaw and Justin Harvey of Coldwell Banker represented the buyer. Additionally, Jones, Roach & Caringella has acquired three contiguous shell units totaling 4,070 square feet at the property. Jon Boland and Ryan Bracker of Voit represented the seller, Camino Del Rio Partners, in both transactions. Boland and Bracker also represented Jones, Roach & Caringella.
ROSEVILLE, CALIF. — Ichord Family Merced Ranch has acquired a fully leased retail building, which is located at 10050 Fairway Dr. in Roseville, for $3.6 million. Tenants at the 7,270-square-foot property include Kragen Auto Parts (CSK Auto/O’Reilly Automotive) and Larry’s Comfort Shoes. The seller was Larry’s Comfort Shoes Fairway Creek. Ed Benoit and Robert King of TRI Commercial/CORFAC International represented both parties in the transaction.
EVERETT, WASH. — Doug Smith of Colliers International represented John and Linda Drake in the acquisition of a 23,210-square-foot multifamily property, which is located at 1007 75th SE St. in Everett. PSCC sold the property for $1.85 million. Phillip Assouad and Giovanni Napoli of GVA Kidder Mathews represented the seller in the transaction.
HAYWARD, CALIF. — Sundt Construction is currently constructing two projects totaling $25 million for California State University, East Bay. The first project is a $17.7 million, 55,000-square-foot recreation and wellness center, which will feature a two-court gymnasium, an elevated jogging track, a fitness center, two multi-purpose activity rooms, locker rooms, massage therapy rooms and administrative and support space. The second project is a 24,000-square-foot facility that will house a multipurpose gym and a number of fitness and aerobics rooms. The center is striving to achieve LEED Silver certification. Irvine, Calif.-based LPA Inc. is providing architectural support. Completion for both projects is slated for late 2010.
CARLSBAD, CALIF. — Providence Capital Speed Fund, on behalf of a wholly owned subsidiary, has acquired Carlsbad Pacific for an undisclosed price. Located at 5050 Avenida Encinas in Carlsbad, the property offers 49,031 square feet of office space. The building is currently 81 percent leased to tenants, including RBF Consulting, UBS Financial and Next Proteins. Rick Reeder, Brian Driscoll and Jay Boyle of Grubb & Ellis|BRE Commercial, along with Robert Griffith of Grubb & Ellis, represented the seller, Prudential Real Estate Investors, and the buyer.
SAN DIEGO — San Diego-based Barnhart Inc. has been awarded $35.7 million in military construction contracts within the last 45 days. The company was selected for the design/build of an $8.84 million fire crash rescue station at Travis Air Force Base in Fairfield, Calif., which is scheduled for completion by December 2010. Additionally, the company received an $8.65 million contract for the design/build of a Special Operations Force combat crew training facility in Naval Base Coronado. Barnhart also received a $10.9 million contract to design/build two child development centers at Naval Base Coronado, which is slated for completion in January 2011. Finally, the company was selected for a $7.27 million contract for the repair and renovation of an existing four-story bachelor enlisted quarters, which currently serves as billeting for the School of Infantry at Marine Corps Base Camp Pendleton. The project is expected to be completed by spring 2010.
SANTA CLARITA, CALIF. — NorthMarq Capital has arranged an $18.3 million first mortgage for Canyon Crest Apartments, a 158-unit multifamily complex located in Santa Clarita. Ory Schwartz secured the financing, which was provided by AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. Terms of the 10-year loan include 2 years with interest-only payments followed by a 30-year amortization schedule. The borrower was an Orange County, Calif.-based private real estate investor.
LA JOLLA, CALIF. — McCarthy Building Cos. has been selected for the construction management of a 150,000-square-foot, four-story Health Sciences Biomedical Research Facility at the University of California, San Diego in La Jolla. Designed by ZGFArchitects, the facility will feature wet labs, open lab space, meeting rooms and support space above ground, with core lab space and support mechanical, electrical and plumbing systems in the basement. The building is striving to achieve at least LEED Gold certification upon completion. Construction is scheduled to begin in fall 2010.